EVENING SNAPSHOT – Europe Markets Summary
18 May 2012 17:20 [Source: ICIS news] ?xml:namespace>LONDON (ICIS)--Here is Friday’s end of day European oil and chemical market summary from ICIS.
CRUDE: June WTI: $92.21/bbl, down 35 cents/bbl. July BRENT: $107.30/bbl, down 19 cents/bbl
Crude oil futures remained in negative territory, pressured by continued concerns over the Spanish banking sector. The Bank of Spain disclosed on Friday that the value of its bad loans held by its banking sector has soared in the past year.
NAPHTHA: $852-860/tonne, down $4/tonne
The cargo range slipped as the effects of a weaker crack spread overrode those of slightly higher crude oil values. One trade took place this afternoon. June swaps were assessed at $853-855/tonne.
BENZENE: $1,170-1,190/tonne, steady
May traded at $1,180/tonne this afternoon, within the current range. June was valued at $1,150-1,170/tonne.
STYRENE: $1,390-1,400/tonne, steady
May was quiet and the range unchanged. June traded at $1,390/tonne and the range was valued at $1,380-1,400/tonne.
TOLUENE: $1,190-1,210/tonne, steady
The market was quiet and the range unchanged.
MTBE: $1,146/tonne, unchanged
No deals were reported and the range is assessed unchanged. EuroBob gasoline did not trade either.
For more pricing intelligence please visit ICIS pricingBy: Staff Reporter+44 20 8652 3214
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